I’ve had my eye on Wells Fargo for a long time as a potential buy. The main reason, is Warren Buffett buys more shares of this company any chance he gets.
Today, I bought 20 shares of WFC at $50.18 per share.
At the time I made this purchase, their PE Ratio was about 12.36. Which is very attractive. Their entry yield is over 3%. Their payout ratio is around 36%, which is pretty low and leaves a lot of room for dividend growth.
This puts me at $544.72/$600.00 for my annual passive income goal for 2016, and $45.39/$100.00 for my average monthly passive income long term goal.